Healthcare of Ontario Pension Plan Trust Fund Invests $959,000 in InMode Ltd. (NASDAQ:INMD)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of InMode Ltd. (NASDAQ:INMD) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 44,400 shares of the healthcare company’s stock, valued at approximately $959,000.

A number of other institutional investors have also recently bought and sold shares of INMD. Covestor Ltd raised its holdings in shares of InMode by 28.6% during the 1st quarter. Covestor Ltd now owns 6,957 shares of the healthcare company’s stock worth $150,000 after buying an additional 1,549 shares in the last quarter. Vanguard Group Inc. boosted its holdings in InMode by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 751,537 shares of the healthcare company’s stock worth $16,241,000 after acquiring an additional 4,387 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of InMode by 16.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 439,365 shares of the healthcare company’s stock valued at $9,495,000 after acquiring an additional 61,263 shares during the period. ProShare Advisors LLC grew its holdings in InMode by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 13,920 shares of the healthcare company’s stock valued at $301,000 after buying an additional 1,094 shares in the last quarter. Finally, Hohimer Wealth Management LLC raised its stake in InMode by 6.5% in the first quarter. Hohimer Wealth Management LLC now owns 14,923 shares of the healthcare company’s stock valued at $322,000 after purchasing an additional 906 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group downgraded InMode from a “buy” rating to a “hold” rating and lowered their price objective for the company from $21.00 to $19.00 in a research report on Tuesday. Barclays lowered their price objective on InMode from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of InMode in a report on Thursday, July 11th. Finally, Canaccord Genuity Group reduced their price target on InMode from $21.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, InMode has a consensus rating of “Hold” and an average price target of $28.83.

InMode Price Performance

Shares of INMD opened at $17.60 on Friday. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 8.34 and a beta of 2.18. The company has a 50-day moving average of $18.16 and a 200 day moving average of $19.96. InMode Ltd. has a 1-year low of $16.44 and a 1-year high of $48.25.

InMode (NASDAQ:INMD) last issued its earnings results on Thursday, May 2nd. The healthcare company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. The business had revenue of $80.28 million during the quarter, compared to analysts’ expectations of $80.10 million. InMode had a return on equity of 26.15% and a net margin of 38.84%. On average, equities analysts anticipate that InMode Ltd. will post 1.35 earnings per share for the current fiscal year.

InMode Profile

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.